From Investing.com:

Most Asian stocks moved in a tight range on Friday as investors digested mixed inflation readings from the U.S. and China. Japan’s Nikkei 225 index continued to perform well despite this, setting new 34-year highs.

Japanese stocks surged past 34-year highs, with the Nikkei 225 index rising 1.2% on Friday to nearly 35,500 points. The index was set for a 6.2% jump this week, its best weekly gain since March 2022, reflecting strong market performance and an optimistic outlook for the Japanese economy.

Chinese stocks rose as CPI inflation saw a mild pick-up in December. The Shanghai and Shenzhen indexes recovered from multi-year lows, signaling some hope for consumer spending recovery. However, broader Chinese inflation still remained deep in disinflationary territory, with continued weak outlook for the Chinese economy.

Broader Asian markets tread water, tracking a similar overnight performance on Wall Street. Most regional stocks were set for mild weekly losses, as growing doubts over U.S. interest rate cuts kept traders wary of risk-driven assets.

Futures for India’s Nifty 50 index pointed to a flat open, with data from major companies and economic indicators on tap for later in the day.



Read more: Asian stocks mixed after US, China CPI surprise; Nikkei extends rally By Investing.com